Argentina Enacts Comprehensive Regulations for Virtual Asset Service Providers (VASPs)

Argentina’s CNV has introduced resolution 1058, which establishes new regulatory requirements for VASPs, including customer-exchange asset segregation, enhanced documentation, and compliance protocols. Effective December 31, 2025, the regulations aim to improve user protection while fostering innovation in the cryptocurrency sector, although concerns about crypto taxation remain unaddressed.

Argentina has introduced new regulatory requirements for virtual asset service providers (VASPs) via resolution 1058 by the Comisión Nacional de Valores (CNV). This framework, published on March 13, builds upon Law 27.739, which designated the CNV as the governing body for VASP supervision in Argentina. The new regulations aim to enhance compliance in the cryptocurrency sector, ensuring better protection for users and maintaining market integrity.

The resolution mandates comprehensive documentation, security plans, and fund reserve levels tailored to different types of VASPs. Furthermore, VASPs are now obligated to communicate the risks associated with their operations to users, thereby bolstering user awareness. It also revises the existing anti-money laundering and counter-terrorism financing (AML/TF) policies to ensure conformity with the guidelines set by the Financial Action Task Force (FATF).

A significant amendment includes the requirement for customer-exchange asset segregation. This measure ensures that customer assets are separated from those of the exchange, aiming to safeguard users from potential risks, similar to the collapse of FTX. Though this concept was debated during Brazil’s legislative discussions, it was ultimately rejected due to concerns about hindering innovation.

The CNV collaborated with various stakeholders in the cryptocurrency industry to develop this regulatory framework. CNV President Roberto Silva articulated that significant measures were taken to ensure the regulations promote effectiveness and compliance without imposing excessive burdens on the sector, thus fostering innovation. However, some industry insiders expressed concern regarding the absence of clarity on taxation for cryptocurrencies, asserting that digital assets are being unfairly positioned compared to traditional investments.

The new regulations will officially take effect on December 31, 2025, compelling VASPs to modify their operations in accordance with these updated requirements.

The Argentine government has implemented a new regulatory framework for VASPs, emphasizing compliance through stringent requirements, including customer-exchange asset segregation and enhanced security measures. While the regulations promote user protection and market stability, they also highlight concerns regarding ambiguity in the taxation of digital assets. The collaboration with industry experts is a positive step, but the industry must adjust to the new requirements by the designated deadline in 2025.

Original Source: news.bitcoin.com